MGO One Seven LLC Increases Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

MGO One Seven LLC raised its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 41.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 11,259 shares of the financial services provider’s stock after buying an additional 3,277 shares during the period. MGO One Seven LLC’s holdings in Intercontinental Exchange were worth $1,541,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Headlands Technologies LLC grew its holdings in shares of Intercontinental Exchange by 179.2% in the second quarter. Headlands Technologies LLC now owns 16,645 shares of the financial services provider’s stock valued at $2,279,000 after purchasing an additional 10,683 shares during the period. Coldstream Capital Management Inc. increased its holdings in shares of Intercontinental Exchange by 5.4% during the 2nd quarter. Coldstream Capital Management Inc. now owns 9,281 shares of the financial services provider’s stock worth $1,271,000 after buying an additional 478 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Intercontinental Exchange by 1.0% in the second quarter. Daiwa Securities Group Inc. now owns 88,171 shares of the financial services provider’s stock valued at $12,070,000 after acquiring an additional 846 shares during the last quarter. Provident Investment Management Inc. grew its position in Intercontinental Exchange by 4.6% in the second quarter. Provident Investment Management Inc. now owns 317,006 shares of the financial services provider’s stock worth $43,395,000 after acquiring an additional 13,808 shares during the period. Finally, Dorsey & Whitney Trust CO LLC increased its stake in Intercontinental Exchange by 4.3% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 7,909 shares of the financial services provider’s stock worth $1,083,000 after acquiring an additional 324 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $161.14 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $92.43 billion, a price-to-earnings ratio of 36.96, a price-to-earnings-growth ratio of 2.82 and a beta of 1.08. The stock’s 50-day moving average is $153.79 and its two-hundred day moving average is $141.81. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $163.71.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. The business’s quarterly revenue was up 22.7% compared to the same quarter last year. Analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the sale, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Warren Gardiner sold 750 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Mayur Kapani sold 395 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the sale, the chief technology officer now directly owns 64,471 shares in the company, valued at approximately $9,098,792.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,096 shares of company stock valued at $9,593,983. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ICE shares. Citigroup increased their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Finally, Barclays boosted their target price on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $154.93.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.